Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Mass. Ruling Gives New Hope to Advocates of Auto Assigned Risk Plan
Apr 20 2007 // Whether Massachusetts will implement an assigned risk plan for its private passenger auto market was considered a dead issue when in January the incoming Patrick administration suspended rules to create one, but now the...
SNL Financial to Publish Statutory Insurance Company Financial Data
Apr 18 2007 // Publisher SNL Financial has reached an agreement with the National Association of Insurance Commissioners (NAIC) to acquire and publish statutory insurance data through SNL’s database products. Statutory insurance...
Report Details P/C Insurers’ 2006 Proftability, Escape from Storms
Apr 18 2007 // Another report on the insurance industry confirms and details what has been widely acknowledged: a sharp decline in catastrophes in 2006 contributed to improved underwriting results for the year. The U.S. property/casualty...
Insurers Association Voices Concern Over Washington ‘Bad Faith’ Bill
Apr 17 2007 // Following the Washington Senate’s passing of an Insurance Fair Conduct Act, the Property Casualty Insurers Association of America (PCI) has issued a statement voicing its concern that the bill will lead trial...
Mass. Firm Fights State’s Bill for Explosion; Insurers Look to Recoup
Apr 16 2007 // A Massachusetts ink manufacturer whose plant exploded and damaged dozens of homes has mounted a legal challenge to the state’s authority to bill it $312,000 for the cost of responding to the crisis. Lawyers for CAI...
Military Insurer USAA Restricts New Business in Florida
Apr 13 2007 // Effective immediately, military personnel insurer USAA said it will “significantly restrict” the number of new homeowner, fire, and renter insurance policies it sells in Florida. USAA will only sell new...
Okla.-based Insurer Names New Executive Staff
Apr 13 2007 // Oklahoma City, Okla.-based BMSI Holdings, the holding company for BancInsure Inc., announced a number of promotions and appointments following their annual shareholders meeting in Dallas, Texas. Rodney N. Sargent was...
La. Governor, Commissioner Outline Insurance Legislative Package
Apr 12 2007 // Louisiana Governor Kathleen Babineaux Blanco and state Commissioner of Insurance Jim Donelon on April 11 unveiled a joint legislative package to attract new insurers to the state, drive down rates and protect consumers,...
Pa. Health Insurers’ Merger Could Eliminate 1,000 Jobs
Apr 11 2007 // The proposed merger of Pennsylvania’s two largest insurance companies could result in about 1,000 lost jobs, mostly through attrition, a company executive said this week. Highmark CEO Dr. Kenneth Melani made the...
Industry to Congress: Private Market Is the Best Solution on Natural Disasters, But Some Say Federal Help Needed
Apr 11 2007 // The private insurance marketplace, not the federal government, is the best vehicle to address coastal insurance issues and natural disasters in the U.S., according to insurers. Even so, the federal government can play a...
Insurers Slam Florida Citizens Expansion Bill
Apr 10 2007 // The larger the Citizens Property Insurance Corp. becomes, the greater the financial crisis that could occur when a major storm hits Florida, insurers cautioned this week. That message from the Property Casualty Insurers...
Captive Insurers Honor Vermont Regulator
Apr 10 2007 // For over 30 years Leonard Crouse has been credited as a key figure in advancing the captive insurance industry. Crouse, the deputy commissioner for captive insurance for the State of Vermont, has been honored for his...
Direct Mail? 63 Years Later, Letter Returned to Maine Insurer
Apr 10 2007 // A letter that was sent from an insurance company office in Portland, Maine, but never delivered has been returned to the sender — 63 years after it was mailed. A mail carrier returned the letter two weeks ago to a...
Tower Completes Acquisition of Northeast Insurer, Preserver Group
Apr 10 2007 // Tower Group, Inc. reported that it has completed the acquisition of Preserver Group, Inc., a New Jersey based property and casualty insurer. This transaction was previously announced on Nov. 14, 2006. Preserver Group, Inc....
Study: Class Actions Against Insurers Surged in 1990s; Many Resolved Behind Closed Doors
Apr 10 2007 // The number of class action lawsuits filed against insurance companies in the U.S. increased sharply during the 1990s prior to the passage of the federal Class Action Fairness Act of 2005 (CAFA), according to a RAND Corp....
On shaky ground?
Apr 9 2007 // Two decades since its formation, the West’s only regional catastrophe pool, the California Earthquake Authority, faces financial and management changes that could have significant implications for its future. Those...
Riding out soft and hard market cycles with quality relationships
Apr 9 2007 // Analyzing the economic rhymes and reasons of soft and hard market cycles in the insurance industry would make for a challenging university-level business course. Theories abound on why and when these cycles occur, but no...
Are state-backed insurance schemes the wave of the future?
Apr 9 2007 // The government’s role in insurance markets is a matter of increasing importance and controversy. Historically, state insurance departments have regulated insurers and insurance markets, overseeing solvency, rate and...
Mass. auto report offers map to move state to limited price competition
Apr 9 2007 // Also, advises against assigned risk pool change at this time and against erasing subsidies or allowing credit scoring A special auto insurance study group appointed by Massachusetts Gov. Deval Patrick has recommended...
Insurers fight impression their big profits are at claimants’ expense
Apr 9 2007 // The headline numbers were eye-popping: Allstate reported a record $5 billion profit for 2006. State Farm Insurance’s profit climbed 65 percent. St. Paul Travelers’ earnings rose sixfold in the fourth quarter,...
